Nothing is binding until offer AND acceptance. So if a buyer makes an offer, he can withdraw it until seller signs and accepts it. What I think happened with Colekicker is that he (and some others) submitted offers, but seller's agent sat on them, waiting to see what other offers came in. At this point, there are 4 pending offers, none of which has been accepted by the seller, so the parties are free to keep negotiating. But once a buyer and the seller have both signed one offer, its binding on both. Subject to other language in the contract, which is usually to the effect that if the buyer backs out, seller gets to keep the earnest money only. But if seller backs out, buyer can enforce the deal.
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